(1) BS, sperber, somehow, apparently, managed to hang onto 60,000 preferred shares. They can convert to 600,000 common shares. He'll wait until after the reverse split to convert, obviously, in my opinion, as the preferred shares will not be split.
(2) The remaining 15,940,000 preferred shares can convert to ~160M common shares
Where in the financials does it say that the preferred can convert to common at 10/1? 15,940,000 represents 51% interest of the company according to the interim financial report.
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